YouTube Inks Major Studio Movie Streams16 Apr, 2009 By: Erik Gruenwedel
Search behemoth Google Inc. April 16 said its subsidiary signed streaming agreements with Sony Pictures, Lionsgate, CBS Corp., BBC and Starz, among others.
The agreements, which Home Media Magazine first reported April 7, mark the first time major content owners have licensed more than video clips and trailers on the popular social video site.
Sony Pictures spokesperson Paula Askanas said YouTube viewers would be directed to Crackle.com (the studio's premium video website) to view the ad-supported films. Sony and YouTube will split the revenue.
Initial Sony titles include Cliffhanger, Single White Female, Higher Learning, Quicksilver, Starman, Toy Soldiers, Nowhere to Run and Side Out, among others.
Askanas said currently features 60 catalog titles, including Groundhog Day, Stripes, The Last Dragon, El Mariachi, Ghostbusters, Who’s Harry Crumb? and Wild Things.
Google disclosed the deals during a first-quarter investor call that saw the Mountain View, Calif.-based company report net income of $1.42 billion, up nearly 9% from $1.31 billion during the prior-year period.